Successful Portfolios LLC Makes New $202,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Successful Portfolios LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,398 shares of the wireless technology company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Great Lakes Retirement Inc. lifted its position in shares of QUALCOMM by 2.6% in the fourth quarter. Great Lakes Retirement Inc. now owns 15,670 shares of the wireless technology company’s stock valued at $2,266,000 after acquiring an additional 393 shares in the last quarter. Verum Partners LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $272,000. WestEnd Advisors LLC boosted its position in shares of QUALCOMM by 1.9% during the 4th quarter. WestEnd Advisors LLC now owns 143,882 shares of the wireless technology company’s stock worth $20,810,000 after purchasing an additional 2,688 shares during the period. Elk River Wealth Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $255,000. Finally, Cornell Pochily Investment Advisors Inc. boosted its holdings in QUALCOMM by 1.7% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 11,103 shares of the wireless technology company’s stock valued at $1,606,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on QCOM shares. Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. KeyCorp lifted their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Monday, March 4th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Trading Up 0.1 %

QUALCOMM stock traded up $0.17 during trading hours on Thursday, reaching $169.30. 5,261,760 shares of the company’s stock traded hands, compared to its average volume of 9,004,606. The firm’s 50 day moving average is $157.64 and its 200-day moving average is $135.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 689 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total transaction of $110,680.96. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock worth $5,457,048 over the last quarter. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.